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Invesco Touches a New 52-Week High on Strong Q2 Earnings

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Shares of Invesco Ltd. (IVZ - Analyst Report) achieved a new 52-week high of $38.96 in the second half of the trading session on Aug 13. The stock closed at $38.82, reflecting a solid return of 18.1% over the past one year. The trading volume for the session was 1.6 million shares.

Despite the strong price appreciation, this Zacks Rank #2 (Buy) stock has plenty of upside left, given its estimate revisions over the last 30 days.

Growth Drivers

Impressive second-quarter 2014 results, driven by a rise in revenues, was the primary growth driver for Invesco. Notably, the company reported almost stable preliminary month-end assets under management (AUM) for Jul 2014.

Nonetheless, Invesco’s AUM for July came in at $798.8 billion, compared with $802.4 billion at the end of Jun 2014. The company recorded positive long-term inflows during the reported month. However, AUM was adversely impacted by negative foreign exchange and unfavorable market returns.

Estimate Revisions Shows Strength

Over the last 30 days, 10 out of 12 estimates for 2014 have been revised upward, lifting the Zacks Consensus Estimate by 2.8% to $2.53 per share. For 2015, 8 out of 12 estimates moved north, with the Zacks Consensus Estimate increasing 2.1% to $2.87 per share, over the same time frame.

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